Singapore-based on-demand home caregiving services platform Homage announced that it has raised an undisclosed amount of Series B funding. The double-digit round was led by EV Growth, with new investors Alternate Ventures and KDV Capital also joining the round and participated by existing investor HealthXCapital.
EV Growth, a Singapore headquartered venture capital firm, is a joint venture between East Ventures, SMDV and Yahoo! Japan Capital. The VC firm is focused on providing growth capital to startups in Indonesia and the rest of Southeast Asia with an agnostic industry focus.
Launched in 2017, Homage delivers personalized and holistic care to individuals, families, and organizations to enable wellness and recovery, be it at home, point-to-point (for medical tourism or escort and transportation), or care within the health and aged care facilities.
WHAT’S IT FOR
With the injection of new funds, Homage will focus on three main areas to increase its scale of operations. Firstly, the startup will invest in its core network of Care Professionals to improve their professional capabilities and launch holistic and personalized healthcare services empowered by its care provider, enterprise, and consumer mobile and web platforms.
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Next, Homage will work to forge new partnerships with private and public sector stakeholders in its ecosystem to raise the accessibility and affordability of care and invest further into the enterprise technology platform.
Homage also plans to further invest in building out its medical services arm with a network of qualified doctors and medication delivery capabilities, in addition to deeper the investments of its core services in skilled nursing, assistance with daily living activities as well as rehabilitation care including physiotherapy, speech therapy, and occupational therapy.
Lastly, the company will also expand further its services in the Asia Pacific region through expanding the quality and pool of care professionals and build the much needed long-term care infrastructure. Homage currently has operations in Singapore and Malaysia.
RECENT DEVELOPMENTS
Last October, Homage partnered with Singapore-based digital health startup WhiteCoat to launch a pilot telehealth program that complements home-based care, MobiHealthNews reported. The program improves the management of chronic diseases and conditions, specifically hypertension, hyperlipidemia and diabetes, which are common among elderly patients, by presenting them with a safe and convenient option to see a doctor at the comfort of their homes.
ON THE RECORD
“Homage is about providing care wherever you are, for whatever you need, in a one-stop platform. As we’ve scaled out our core services, we see a strong need to build a strong network of fully curated, reliable and trusted care professionals to deliver a holistic range of health care services for our future, making long term health care more accessible and affordable,” said Gillian Tee, Co-founder and CEO of Homage in a statement.
“Increasing aging population and low TFR (total fertility rate) are inevitable. Urbanization and a fast-paced working environment make caregiving service become one of the key services in our daily life. Gillian and the team have been consistently trying to bring the on-demand caregiving service as accessible as possible, fast, and reliable. We are proud to be part of the Homage journey to bring back caregiving with control, grace, and dignity,” said Willson Cuaca, Managing Partner of EV Growth and Co-founder of East Ventures.
Source: MobiHealth News
